How to Earn a Great Salary as a Life Insurance Agent (with Zach McElwain)

Paying yourself a salary is possible as a life insurance agent! Zach explains exactly how to remove financial pressure, buy more time, create stability, and keep yourself hungry & humble, and how all of these things will help you create your own salary in this industry.
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About the Life Insurance Academy Podcast
The Life Insurance Academy Podcast is a Top-Ranked insurance-focused podcast with an expanding global audience of avid listeners. The weekly podcast takes you out of the classroom and into the conversations of top-producing agents in life insurance sales so you can level up your business. Subscribe wherever you listen to podcasts and follow us on Facebook, Twitter, and Instagram at @LifeInsureAcad.
About the Life Insurance Academy
The premier training and coaching academy & online resource for insurance sales. The Life Insurance Academy trains agents and agencies around the world to help grow sales, scale business, increase profit, and expand impact. While navigating through LifeInsuranceA..., you’ll find podcasts, video courses, downloadable tools, and supporting sales resources. Content covered includes prospecting, leads, how to approach your clients, proven sales processes, top-producing presentations, effective pricing strategies, closing techniques, client care, sales psychology, agency growth strategies, and much more.
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[@dailstancill720]

This is a super video. Business & cash flow elements, from an agents perspective, are not discussed at all on yt . Thx for doing it!

[@LifeInsuranceAcademy]

Glad it was helpful!

[@androidonetwothree]

holy steak sauce! this is such a cool concept thanks!!! will def be using this salary idea

[@Jane-yj1to]

This video came right on time 😁 Thank you!

[@Ramal26]

You delivered the right message at the right time for a multitude of agents!! Thank You.

[@janiebaugher1712]

Thank you so much for this video!

[@KhadijaB2]

Thank you for sharing

[@robertjames6255]

Great info

[@raygoogs]

Awesome Video

[@Ezekiel-AaronPaul-fh2hx]

This is very important

[@robertjames6255]

Great advice

[@jonboysprowash7845]

At the end of the year you will pay taxes on everything you earned for that year. Not just what you put into the tax account from salary. Wouldn’t it be better to tax the commission you make and pay yourself the full $1000 salary? Just wondering. I have never seen it broke down like this. Good idea👍

[@canwejustloveeachother2550]

Thanks

[@teddyromulus4500]

If you putting 70 percent in your personal checking and 30 percent going to your tax savings account then you won't have any money in your business checking account. How will 10k be accumulated if you are splitting 100 percent into your personal checking and your tax savings? Am I missing something?

[@LifeInsuranceAcademy]

In this example, the 70/30 split was coming from the $1000/wk salary we allotted for ourselves, not the total sales we are bringing in. Any revenue over that $1000 will stay in our business checking account.

[@Ncognito579]

I am so confused about the possibility of paying the insurance company commission back
I didn’t know this was a thing which in of itself is terrifying me
Can someone please clarify ?
So if someone doesn’t keep their policy I have to pay the insurance carrier back the commission? I’m sure people cancel their policies all the time 😢

[@LifeInsuranceAcademy]

Insurance companies give an advance on commissions, assuming the client will continue to pay premiums for multiple years. Chargebacks occur when agents get paid an advanced commission, but the client stops paying their premiums, and the agent has to return the money. Chargebacks are not fun, and it's not the agent's money until the client pays the premiums for the entire period the advance was given.
We did a podcast going into more detail on what a chargeback is and how to avoid getting them. Check out the video here: ua-cam.com/video/qeHlI8qDgTo/v-deo.html

[@diademcreativesco]

Hello there
I completely see how difficult it is to find quality life insurance website/leads who needs life insurance policy; we all are aware of this.
I now have a lead generation funnel that is fully automated, Facebook ads is used and capable of generating over 30 leads each week.
I only need 30 life insurance agents to help generate quality life insurance leads that needs a life insurance policy.
Kindly message me now or leave a comment below

[@kennytrimm6234]

🎉